Bank of America to pay $3.6 billion to Fannie Mae to settle mortgage claims


Bank of America Corp said it reached a $3.6 billion settlement with Fannie Mae to resolve claims related to the sale and delivery of residential mortgage loans.

The bank said it has also entered into agreements with two parties to sell its around $306 billion residential mortgage servicing rights.

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(Reporting by Tanya Agrawal in Bangalore; Editing by Supriya Kurane)